U.S. equity markets plunged this week following President Donald Trump’s announcement of sweeping retaliatory tariffs, sparking a $5.4 trillion market rout — but bitcoin and the broader crypto market proved far more resilient in the face of the chaos.

The S&P 500 dropped to its lowest point in nearly a year, while the Nasdaq 100 officially entered bear market territory after shedding 11% in just two days. In stark contrast, bitcoin (BTC) fell only around 6% over the same period, and the CoinDesk 20 Index (CD20), which tracks major crypto assets, declined just 4.9%.

According to data from TheTie, the total cryptocurrency market capitalization currently sits near $2.65 trillion. Over the last 24 hours, BTC saw a marginal dip of 0.3%, trading at $82,619.77, while the CD20 index edged higher by 0.2%.

Crypto-related equities reflected mixed performance. While the broader market trend was negative, some crypto firms bucked the sell-off. MARA Holdings (MARA) gained 0.6%, Core Scientific (CORZ) rose 0.4%, and MicroStrategy (MSTR) — the largest corporate holder of bitcoin with over 528,000 BTC — jumped 4% on the day, handily outperforming the Nasdaq’s 5.8% drop.

Analysts are beginning to see bitcoin in a new light. Geoffrey Kendrick of Standard Chartered suggested that BTC is not only functioning as a hedge against traditional finance volatility but may now be perceived as a “U.S. isolation hedge” amid rising global tensions. Kendrick also noted that among the Magnificent 7 tech stocks, only Microsoft outpaced bitcoin during the most recent market sell-off.

Adding a layer of symbolism to the moment, the crypto community also marked April 5 — the supposed birthday of bitcoin creator Satoshi Nakamoto. The date is speculated to be a reference to Executive Order 6102, signed by President Franklin D. Roosevelt in 1933, which compelled U.S. citizens to turn over their gold holdings to the government.

In an increasingly volatile macro environment, bitcoin’s durability is once again sparking conversations about its role in modern portfolios — not just as a speculative asset, but as a meaningful hedge against both financial and geopolitical risk.